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Public Act 094-0690
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| HB3095 Enrolled |
LRB094 07212 NHT 37367 b |
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AN ACT concerning education.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The School Code is amended by changing
Section |
17-2.2d as follows:
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(105 ILCS 5/17-2.2d)
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Sec. 17-2.2d. Special taxing and bonding for temporary |
relocation expense and emergency replacement purposes. |
(a) In addition to any other taxes and notwithstanding any |
limitation imposed by the Property Tax Extension Limitation Law |
or any other limitations specified in this Code or any other |
law, the school board of any district subject to this Code
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having a population of less than 500,000 inhabitants that meets |
the criteria specified in subsection (c) of this Section, may, |
by proper resolution, levy an annual tax not to exceed 0.05% |
upon the value of the taxable property as equalized or assessed |
by the Department of Revenue for a period not to exceed 7 years |
for the purpose of providing for the repayment of moneys paid |
to the district
distributed for temporary relocation expenses |
of the district pursuant to Section 2-3.77 of this Code. |
(b) The school board of any district that meets the |
criteria specified in subsection (c) of this Section may |
repair, reconstruct, or replace a condemned building without |
seeking referendum approval for the repair, reconstruction, or |
replacement.
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(c) In order for this Section to apply, the school district |
must (i) be located in a county subject to the Property Tax |
Extension Limitation Law, (ii) have had a total enrollment of |
at least 1,075 students as shown on the 2003 Illinois State |
Report Card, and (ii)
(iii) have had a school building |
condemned within 10 years after the building's initial |
occupancy
after January 1, 2004 and prior to June 30, 2004.
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(d) Notwithstanding any limitation imposed by the Property |
Tax Extension Limitation Law or any other limitations specified |
in this Code or any other law, the school board of any district |
that meets the criteria specified in subsection (c) of this |
Section, may, by proper resolution, issue bonds, without |
referendum, in an amount sufficient to finance the total cost |
of repair, reconstruction, or replacement of the condemned |
building, including the costs of providing for the payment of |
any obligations heretofore or hereafter entered into for such |
purposes. Any premium and all interest earnings on the proceeds |
of the bonds so issued shall be used for the purposes for which |
the bonds were issued. The proceeds of any bonds issued under |
this Section shall be deposited and accounted for separately |
within the district's site and construction/capital |
improvements fund. The recording officer of the board shall |
file in the office of the county clerk of each county in which |
a portion of the district is situated a certified copy of the |
resolution providing for the issuance of the bonds and levy of |
a tax without limit as to rate or amount to pay the bonds. |
Bonds issued under this Section and any bonds issued to refund |
those
these bonds are not subject to any debt limitation |
imposed by this Code or any other law.
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(e) The school board, as an express condition to receiving |
a temporary relocation loan under Section 2-3.77 of this Code, |
must agree to levy the tax provided in this Section at the |
maximum rate permitted and to pay to the State of Illinois for |
deposit into the Temporary Relocation Expenses Revolving Grant |
Fund (i) all proceeds of the tax attributable to the first year |
and succeeding years for which the tax is levied after moneys |
appropriated for purposes of Section 2-3.77 have been |
distributed to the school district and (ii) all insurance |
proceeds that become payable to the district under those |
provisions of any contract or policy of insurance that provide |
reimbursement for or other coverage against loss with respect |
to any temporary relocation expenses of the district or |
proceeds of any legal judgment or settlement regarding the |
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temporary relocation expenses incurred by the district, |
provided that the aggregate of any tax and insurance or other |
proceeds paid by the district to the State pursuant to this |
subsection (e) shall not exceed in amount the moneys |
distributed to the district pursuant to Section 2-3.77 as a |
loan or grant.
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(f) If bonds under this Section have been issued by the |
school district and the purposes for which the bonds have been |
issued are accomplished and paid for in full and there remain |
funds on hand from the proceeds of the bonds or interest |
earnings or premiums, then the school board, by resolution, |
shall transfer those excess funds to the district's bond and |
interest fund for the purpose of abating taxes to pay debt |
service on the bonds or for defeasance of the debt or both.
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(g) If the school district receives a construction grant |
under the School Construction Law or any other law and the |
purposes for which the grant was issued are accomplished and |
paid for in full and there remains funds on hand from the grant |
or interest earnings thereon, then the excess funds shall be |
paid to the State of Illinois for deposit into the School |
Construction Fund or other State fund from which the |
construction grant was paid. |
(h) All insurance proceeds that become payable to the |
school district under those provisions of a contract or policy |
of insurance that provide reimbursement for or other coverage |
against losses other than with respect to any temporary |
relocation expenses of the district or proceeds of any legal |
judgment or settlement regarding the repair, reconstruction, |
or replacement of the condemned building shall be applied to |
the repair, reconstruction, or replacement. If the project is |
completed and, therefore, all costs have been paid for in full |
and there remain funds on hand, including any interest earnings |
thereon, from the insurance coverage, legal judgment, or |
settlement, then a portion of those excess funds equal to the |
State's share of the construction cost of the project shall be |
paid to the State of Illinois for deposit into the School |
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Construction Fund or other State fund from which the |
construction grant was paid, and the remainder of the excess |
funds shall be transferred to the district's bond and interest |
fund for the purpose of abating taxes to pay debt service on |
the bonds or for defeasance of the debt or both. If no debt |
service remains to be paid, then the excess may be transferred |
to whichever fund that, as determined by the school board, is |
most in need of the funds.
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(Source: P.A. 93-690, eff. 7-1-04.)
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Section 99. Effective date. This Act takes effect upon |
becoming law.
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